portion  of  capital  in  this  division  briefly  are
that  the  business  of  Shipping,  Insurance,  and
Cable  Companies  always  benefits  during  war
times  or  during  political  complications  which
threaten  war.  Therefore,  when  other  securities
are  flat,  stocks  of  this  type  are  enjoying  a  period
of  abnormally  large  earnings.  Further,  the
whole  freight  market  always  benefits  in  every
trade  route  by  an  exceptional  demand  for  tonnage ­
  in  any  quarter  of  the  globe,  because  any
exceptionally  prosperous  part  of  the  world
attracts  to  it  the  surplus  tonnage  from  other
routes,  and  so  improves  the  prosperity  of  shipping ­
  all  the  world  over.  Lastly,  it  will  be
found  that  the  dividend  yields  obtainable  from
General  International  Investments  compare
favourably  with  the  yields  obtainable  in  the
other  geographical  divisions.
When  finally  deciding  upon  the  purchase
of  stocks,  the  adjustment  of  the  equality  of
invested  capital  in  the  various  divisions  should
not,  if  it  can  be  avoided,  be  pushed  to  the
point  where  the  nominal  amounts  of  stocks
purchased  are  broken  up  into  smaller  quantities ­
  than  multiples  of  £100  nominal  stock.
Otherwise  the  investor  will  find  himself
possessed  of  a  number  of  oddments  of  stock
which  he  will  only  be  able  to  realise  in
the  future  at  some  concession  below  the